In California, 2014 was a year of economic recovery, for some
The stock market is going up and up while gas prices go lower and lower (averaging $2.84 a gallon in San Francisco over the weekend, a drop of 7 cents from the previous week).
“This is now clearly a solid and sustainable recovery, led by sectors with good future growth prospects,” said Stephen Levy, director of the Center for Continuing Study of the California Economy in Palo Alto.
Stockton, ground zero for the mortgage meltdown, is one legal challenge from exiting bankruptcy.
“The state’s job market is now strong enough to help an increasing number of residents who dropped out of the workforce during the recession,” said Levy, looking at November state and federal jobs numbers.
High-tech’s bounty, meanwhile is even spreading beyond the San Francisco-Silicon Valley corridor, to cities like Tracy, where ground broke in November on a planned 19 million square foot warehouse and office complex, reflecting “a mini-boom in logistics,” said Levy.
According to a CNN Money analysis of Department of Labor statistics in November, there are 1.2 million involuntary or underemployed workers in California.
[...] as the stock market roared in 2014, corporate profits continued to soar — just under $1.2 trillion in the third quarter, according to the St. Louis Federal Reserve Bank.
While real average hourly earnings eked out a 0.8 percent gain in the past 12 months, wealth inequality reached its highest point since 1929, according to the National Bureau of Economic Research.
The developer’s affordable homes are ready to be occupied at its $15 billion Hunters Point Shipyard project, a game-changer for the southeast part of San Francisco.
Headquartered in San Francisco, the world’s biggest industrial property company saw what others did not about the potential of the nonagricultural Central Valley when it broke ground on a 19 million-square-foot industrial park — the biggest in Northern California — in Tracy.
Defying the odds — lawsuits, rising costs, dwindling public support, including that of former backers like Lt. Gov. Gavin Newsom — America’s first bullet train gets real on Jan. 6 with a groundbreaking on the first leg, in Fresno.
“Capital in the Twenty-First Century”: French economist Thomas Piketty lays out clearly, and in highly readable fashion, how the practices of modern-day capital and global finance propel income inequality — and social injustice.